Monday February 1, 2010

I've Been Thinking:

Iran appears to be playing it conservative regarding the price of oil for the next year.

Oil has been hovering around $70 per barrel for the past four months.

Iran submitted a budget based on oil prices being $60 for next year.

Last year Iran's projected budget was $37.50.

80% of Iranian foreign trade comes from oil exports. Everything depends on the price of oil staying above the estimate or the economy will collapse. Education, agriculture and industry will all dry up and fall apart.

This is a projected budget. It does not consider sanctions. It does not consider markets that might dry up.

Time will tell.

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